4. On January 1, 2007, Shu Co. had 25,000 shares of $1 par value common...
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4. On January 1, 2007, Shu Co. had 25,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar Issued 75,000 shares of common stock for $675,000 June Declared a cash dividend of $2.00 per share to stockholders of record on June 15 June 30 Paid the $2.00 cash dividend declared on June 1 July Purchased 4,000 shares of common stock for the treasury for $18 per share Sept. Declared a 10% stock dividend to stockholders of record on Sept. 20, with a market value of $10 per share Sept. 30 Distributed the 10% stock dividend declared on Sept. 1 Dec Declared a cash dividend of $2.50 per share to stockholders of record on Dec. 20 Required (19 points) Prepare journal entries to record the above transactions. 15 (70.04
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